Frequently Asked Questions
1. Why is Electric Two-Wheeler insurance cheaper than petrol bikes?
To encourage eco-friendly green mobility, the IRDAI mandates a direct 15% discount on the statutory third-party liability insurance rates for electric two-wheelers compared to standard internal combustion engine (ICE) bikes.
2. Does third-party EV insurance cover electric battery pack fire or damages?
No. Third-party insurance solely covers accidental bodily injury, death, or property damage caused to another vehicle or pedestrian. To cover battery pack replacement, short circuits, or water damage, a Comprehensive Policy with an EV Battery Protector Add-on is required.